Tencent Music Entertainment Group (TME) PT Raised to $26 at Citi Ahead of Earnings
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Get Alerts TME Hot Sheet
Price: $8.38 +5.28%
Rating Summary:
15 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 14 | New: 37
Rating Summary:
15 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 14 | New: 37
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Citi analyst Alicia Yap raised the price target on Tencent Music Entertainment Group (NYSE: TME) to $26.00 (from $19.00) while maintaining a Buy rating.
The analyst stated "We expect TME to report relatively in-line 4Q20 during the week of Mar 22nd. We estimate total revs and profit to be broadly inline with our and consensus expectation. We model total revs to rise +13.8% yoy to Rmb8.3bn and adj. net profit +2.1% yoy to Rmb1.37bn (or 16.5% margins)".
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